Word: citigroup
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...corrupt, Jack Grubman says; he's just a liar and a braggart. A former star analyst of telecom companies for the Salomon Smith Barney unit of Citigroup, Grubman says that when he upgraded his investment opinion of AT&T in November 1999--after years of dissing the stock--it had nothing to do with winning investment-banking fees for Salomon, helping his boss Sanford Weill survive a power struggle or getting the Grubman twins into an exclusive nursery school. A string of emails in which he raised all these issues--and which were obtained by reporters last week--are "baseless...
...that anyone will go to jail in this case: but perhaps Intentia and others will lock down their data more tightly the next time hacks come poking around. THE BOURSE Great Divide It may be too early to say if this is the wisdom of Solomon, but last week Citigroup tried to save itself by dividing in half. Responding to alleged conflicts of interest between the research and investment arms of its Salomon Smith Barney investment bank, the world's largest financial institution will split off analysts into a new unit called Smith Barney and headed by Sallie Krawcheck...
...plain out of touch. According to a UBS Warburg study, 4 out of 5 companies project average annual returns of 9% or more--returns that are highly unlikely, with pension managers now investing about 40% of assets in bonds. Companies are more likely to lower their expectations, as Citigroup has--to 8% a year from...
...sometimes a monthly fee of $7 to $11. But most large banks waive the fee for the first six months or for customers who maintain joint balances of about $5,000, according to CheckFree, the largest behind-the-scenes provider of home-banking technology. Bank of America and Citigroup are among a handful of major banks that have made online bill payment free for everyone...
...declining economy and recent corporate scandals account for a decline in financial recruiting, said David Glickman ’01, a recruiter from Citigroup Asset Management...